Can a futures brokerage account be garnished by a credit card company?

Asked on July 9, 2014 under Bankruptcy Law, New Jersey

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Yes, any accounts, including futures brokerage accounts, securities accounts, etc. as well as bank accounts, can potentially be garnished or executed upon by a creditor, including a credit card company, if they sue the debtor and get a judgment against him or her. The exception would be accounts that are part of certain kinds of retirement savings (like 401ks, IRAs, etc.), since those are generally protected from execution or garnishment.


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